Beacon Investment Advisory Services Inc. Decreases Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Beacon Investment Advisory Services Inc. cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 243,295 shares of the semiconductor manufacturer’s stock after selling 4,622 shares during the quarter. Advanced Micro Devices comprises about 1.7% of Beacon Investment Advisory Services Inc.’s investment portfolio, making the stock its 17th largest position. Beacon Investment Advisory Services Inc.’s holdings in Advanced Micro Devices were worth $39,920,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in Advanced Micro Devices by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after purchasing an additional 177,700 shares in the last quarter. Swiss National Bank grew its stake in Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock valued at $787,186,000 after acquiring an additional 12,500 shares during the last quarter. Shum Financial Group Inc. purchased a new position in Advanced Micro Devices during the 3rd quarter valued at about $858,000. Harvest Portfolios Group Inc. increased its holdings in Advanced Micro Devices by 4.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock valued at $24,029,000 after acquiring an additional 6,168 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Advanced Micro Devices by 30.2% during the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after acquiring an additional 588,595 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AMD shares. Piper Sandler reissued an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Citigroup decreased their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, October 31st. Finally, Roth Mkm reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $137.18 on Monday. The firm’s fifty day simple moving average is $152.16 and its 200 day simple moving average is $154.03. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a twelve month low of $116.37 and a twelve month high of $227.30. The firm has a market capitalization of $222.62 billion, a price-to-earnings ratio of 123.59, a PEG ratio of 1.89 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.